'You will get 100 times more than whatever assets you have': Here’s the transcript of alleged call by Reddy

Jun 6: Private sector lender Karnataka Bank has reported to the RBI that it has been defrauded of over Rs 285 crore consequent to loans gone bad to four entities including DHFL.

A total of Rs 285.52 crore has been reported as fraud wherein the bank was one of the consortium lenders during 2009 to 2014 to Dewan Housing Finance Corporation Ltd (DHFL), Religare Finvest, Fedders Electric and Engineering Ltd and Leel Electricals Ltd, Karnataka Bank said in a regulatory filing on Friday.

The maximum is owed by DHFL at Rs 180.13 crore, followed by Religare Finvest Rs 43.44 crore, Fedders Electric Rs 41.30 crore and Leel Electricals Rs 20.65 crore.

"DHFL (defaulted entity) dealing with us since 2014 had availed various credit facilities under consortium arrangement wherein, we were one of the member banks. In view of Early Warning Signals (EWS) in the conduct of the account and other developments, the account was red flagged on November 11, 2019.

"The borrowing account was classified as Non-Performing Asset on October 30, 2019 and now, for misappropriation & criminal breach of trust & diversion of funds in the credit facilities extended earlier to the company, a fraud amounting Rs 180.13 crore has been reported to RBI," Karnataka Bank said.

Likewise, Religare Finvest Ltd (RFL) was dealing with the bank since 2014, availing various credit facilities.

Following classification of this account as non-performing in October 2019 by a consortium member, Karnataka Bank reported to RBI a fraud amounting to Rs 43.44 crore in the credit facilities extended earlier, on account of diversion of funds.

Leel Electricals was classified as NPA account in March 2019 and it reported to RBI a fraud amounting to Rs 20.65 crore in the credit facilities to the company on account of diversion of funds.

"In all the referred three non-performing accounts, necessary provisions have been made in full to be spread across four quarters," it said.

Fedders Electric and Engineering Limited was reported as NPA in July 2018 by a member bank in consortium, subsequent to which Karnataka Bank reported fraud of Rs 41.30 crore on account of fund diversion.

The account has already been fully provided for, it added.

French Nobel prize winning scientist Luc Montagnier has sparked a fresh controversy by claiming that the SARS-CoV-2 virus came from a lab, and is the result of an attempt to manufacture a vaccine against the AIDS virus.

In an interview given to French CNews channel and during a podcast by Pourquoi Docteur, professor Montagnier who co-discovered HIV (Human Immunodeficiency Virus) claimed the presence of elements of HIV in the genome of the coronavirus and even elements of the "germ of malaria" are highly suspect, according to a report in Asia Times.

"The Wuhan city laboratory has specialized in these coronaviruses since the early 2000s. They have expertise in this area," he was quoted as saying.

The theory that Covid-19 virus originated in the lab is making rounds for quite some time.

US President Donald Trump last week acknowledged Fox News report that the novel coronavirus may have been accidentally leaked by an intern working at the Wuhan Institute of Virology in China.

The Fox News, in an exclusive report, based on unnamed sources has claimed that though the virus is a naturally occurring strain among bats and not a bioweapon, but it was being studied in Wuhan laboratory.

The initial transmission of the virus was bat-to-human, the news channel said, adding that the "patient zero" worked at the laboratory. The lab employee was accidentally infected before spreading the disease among the common people outside the lab in Wuhan city.

Professor Montagnier was awarded the 2008 Nobel Prize in Medicine for the identification of AIDS virus, with his colleague professor Franeoise Barre-Sinoussi.

His fresh claim on coronavirus, however, received criticism from scientists, including his colleagues.

"Just in case you don't know. Dr Montagnier has been rolling downhill incredibly fast in the last few years. From baselessly defending homeopathy to becoming an antivaxxer. Whatever he says, just don't believe him," tweeted Juan Carlos Gabaldon.

As per a recent Washington Post, two years ago, the US embassy officials in China raised concerns about the insufficient biosafety at the Chinese government's Wuhan Institute of Virology where deadly viruses and infectious diseases are studied.

Though the institute, located quite close to the Wuhan wet market, is China's first biosafety level IV lab, the US state department had warned in 2018 about "serious shortage of appropriately trained technicians and investigators needed to safely operate this high-containment laboratory".

Bengaluru, Apr 19:  Karnataka's Technical Education department following Union Home Ministry’s guidelines, on Sunday directed all its colleges not to use the Zoom application to conduct online classes during the ongoing lockdown period.

Considering Union Home Ministry's advisory that Zoom app is not safe, the department has taken the decision and issued a circular asking all government, aided and unaided engineering, polytechnic (Diploma) colleges to stop using the app immediately.

The department recommended the use of a free app developed by TCS: "TCS iON Digital class room" or any other App recommended by All India Council for Technical Education (AICTE) to conduct the online classes.